Dennis R. Appleyard,
Davidson College Alfred J. Field, Jr.,
University of North Carolina -- Chapel Hill Steven L. Cobb,
University of North Texas
ISBN: 0072877375 Copyright year: 2006
Features
Opening Vignettes/Case Studies: A great new feature is the opening vignette or case study found at the beginning of almost every chapter. These vignettes will introduce, in an applied setting, concepts and relationships that will be developed throughout the chapter. These are designed to stimulate student interest and inquisitiveness about the forthcoming material. Some examples of interesting vignettes are:
Chapter 8 The Basis for Trade. Do different categories of labor standards have an impact on comparative advantage in developing countries? This vignette discusses an econometric analysis of comparative advantage, focusing on five indicators of core labor standards.
Chapter 12 International Factor Movements. Do the Chinese want foreign investment in China? This vignette discusses this question from a Chinese perspective, including general economic causes and consequences of flows of capital and labor across country borders. It illustrates that the decision to allow foreign investment cannot be entirely an economic one, but also a political one.
Chapter 14 The Impact of Trade Policies. What are the impacts of the tools of trade policy? This vignette discusses tariffs imposed on imported steel and their effects on the steel industry, showing that there are gainers and losers from actions that restrict international trade.
Chapter 25 Economics Policy in the Open Economy (Fixed Exchange Rates). Is the Chinese yuan undervalued and, if so, what is its impact on world trade and finance? Several quotes provide differing viewpoints on this topic. Students can begin to develop a framework for the analysis of macroeconomic issues and policy.
Updated important topics of discussion include the most recent developments in U.S. trade policy, outsourcing, the ten new members of the European Union, currency boards, and the behavior of the Euro.
Boxes: Three types of material appear in over 100 Boxes: analytical, biographical, and case studies that illuminate concepts and analyses under discussion.
Simplified presentations of some of the more difficult concepts and models in order to be more student-friendly.
Separate chapter on economic integration: The Fifth Edition features an updated discussion of the transition economies, the European Union, and the North American Free Trade Agreement.
Consolidated Coverage of Trade Protection: The authors have consolidated the previous edition’s Chapter 15 (“Traditional Arguments for Protection”) and Chapter 16 (“Strategic Approaches to Trade Policy Intervention”) into one coherent chapter. The strategic approaches are now commonplace in policy discussions.
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2006 McGraw-Hill Higher Education